Gold prices rose today in Iraq, Saturday, March 12, 2022, coinciding with the global precious metal recording weekly gains.
Gold price today in Iraq
The average price of a gram of 24-carat gold in Iraq rose during evening trading today, to about 93,552 thousand dinars ($64.05).
The average price of a gram of 21 karat gold in Iraq (the most traded in the market) rose today, to about 81,860 thousand dinars ($ 56.05).
And the average price of a gram of 18 karat gold in Iraq increased, in the middle of today’s trading, to about 70,165 thousand dinars ($ 48.04).
As for economic gold prices in Iraq today, the average price of a gram of 14 karat gold was about 54,572 thousand dinars ($ 37.37).
The price of an ounce and a pound of gold today in Iraq
And the average price of an ounce of gold today in Iraq rose to about 2.909 million dinars (1992 dollars).
While the average price of the gold pound (8 grams of 21 karat) in Iraq today, is about 168.95 dinars (448.39 dollars).
Gold prices today globally
Globally, gold prices fell below the level of $2000 an ounce when settling trading on Friday (the week’s closing session), with investors evaluating many geopolitical and economic developments.
Investors’ appetite for safe assets declined after Russian President Vladimir Putin stated that some progress had been made in talks with Ukraine, although he did not elaborate on the details of this improvement in the discussions between the two sides.
Data revealed that the “Michigan” index of consumer confidence in the United States fell to its lowest level in 11 years at 59.7 points, compared to 62.8 points last February, with fears of increasing prices in the country.
The markets are awaiting the Federal Reserve’s meeting scheduled for next week, amid expectations that the US Central Bank will raise the interest rate for the first time since the start of the “Corona” pandemic.
The US consumer price index rose 7.9% in February on an annual basis, the highest pace recorded since 1982.
And the price of gold futures contracts for April delivery fell by 0.8%, or the equivalent of $ 15.40, to reach $ 1985 an ounce when the session was settled yesterday, Friday.
In the total trading last week, the price of futures contracts for the precious metal increased by 0.9%.